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Announced

Daito Trust to invest $74m in JustCo.

Financials

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Transaction Value£57m
Consideration TypeCash
Capital Owned-
Capital Bid For51%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Private

Friendly

Pending

Single Bidder

Property Services

co-working spaces

Singapore

Joint Venture

Minority

Synopsis

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Daito Trust Construction, a construction and real estate company is set to invest $74m in JustCo, a co-working space operator. Daito Trust will invest up to $24m to form a new Japan joint venture with JustCo to build and operate flexible workspace business in Japan. “The investment from Daito Trust is testament to the long-term growth potential of the flexible workspace industry and JustCo’s sustainable growth and leadership in the region. The scale of the Japanese market opportunity will contribute significantly to the growth of JustCo. Japan is one of the key growth markets for us. We are confident of the strategic partnership with Daito Trust, given their long history in Japan, trusted reputation and local expertise," Kong Wan Sing, JustCo Founder and CEO.

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